MELAKA IMPRESSIONS AND IMPRESSIONS CITY IMPACT ON YONG TAI

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KUALA LUMPUR: RHB Research projects a multi-fold rise in net profit for Yong Tai as the former garment company focuses on property development.

“This would be underpinned by the Impression City project, which would see a potential total gross development value (GDV) rise to RM6.1bil from RM164mil currently,” it said.

The research house said this  ought to keep the group busy for the next eight to 10 years. Impression Melaka, it added, offers a further upside to both earnings and valuations.

“We estimate a valuation range of RM1.03 to RM1.18,” it said as it initiated coverage.

RHB Research said in line with the group’s overall expansion plan into the property sector, Yong Tai has announced several proposals.

They are the RM37mil acquisition of a 17 acre plot in Melaka (Impression Land) for the development of a theatre to produce the Impression Melaka as well as the acquisition of PTS Impression (to hold a 30-year license to stage the show) for RM3mil. It also has a joint venture to develop 100 acres of land adjacent to the Impression Land.

The company is also undertaking a fund-raising exercise to raise more than RM300mil.

“The proposals are expected to be completed/take effect by 1HFY17 (June),” it said.

RHB Research said Impression Melaka, which is the first of its kind outside China, is a live cinematography show that utilises the latest light and sound technologies, modern art concepts and cultural performers.

This is to be the first live largescale Impression Series outside of China and is one of the “entry point project” within the National Key Economic Area (NKEA) initiative for the tourism sector. The performing arts centre is estimated to cost RM300mil, with completion targeted for end-2017.

“Management expects Impression Melaka to contribute RM50mil to RM60milper annum in bottomline thereafter,” it said.

The research house said Impression City is expected to contribute RM5.4bil to total GDV. Concurrent with the construction of the theatre for Impression Melaka, Yong Tai is to develop the land adjacent to it (the development collectively known as Impression City).

The mixed development project includes residential, commercial and retail units. The total GDV over an eight to 10 years period is estimated to be RM5.4bil.

“Management believes the Impression Melaka project would spur the growth of tourism and related industries such as real estate, hotels and eateries, that is catalysts for Impression City.

“We project for Yong Tai to turn around and post a net profit of RM14mil in FY17, accelerating to RM64mil in FY18. This is underpinned by the progress of its property projects. Our forecasts do not factor in the contribution from Impression Melaka, which we have pushed to FY19.

“We derive an indicative valuation estimate range of RM1.03 to  RM1.18 (fully diluted) based on SOP. The low end of our valuation range excludes Impression Melaka while, for its property development business, we have ascribed a 40% discount to its RNAV.

“The top end of our valuation range incorporates the show, where we estimate the business to be worth RM107mil based on DCF. We see upside to our valuation for Impression Melaka as execution risks ease. Our indicative valuation estimate range implies an FY18F P/E of seven to eight times (10.6 to 12 times, fully diluted),” it said.

Envy Wellness Spa Melaka – Rejuvenate Your Life & Soul

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The health and beauty tourism is a very attractive alternative to the classic seaside resort. In Melaka, there are huge numbers of massage spa centers with its exceptional services open to the public. We present you Envy Wellness Spa Melaka that offers the best massage and treatment facilities, known for the beneficial health properties. It is also one of the spa in Melaka highly recommended to tourists after a long day of walking and exploring the ancient sites in the town.

Envy Wellness Spa Melaka

Envy Wellness Spa Melaka, as the name shows, is the spa that fulfills your desire for relaxation and calmness. The spa is aesthetically designed to calm down your nerves and move you from hum of the city to the haven of easing and comfort. This spa offers individualized treatments and services for each guest to suit the needs of their body and soul. The wellness lounge and tea house of the spa ooze charm and harmony.

Envy Wellness is a day spa that offers complete treatments for health and beauty of your mind, body, and soul. The interior and services of the spa are inspired from world-class luxury hotels, spa resorts and Asian massage center to offer unparalleled day spa experience. Envy Wellness has extracted all the best qualities of these establishments to offer an escape from everyday life of the city.

Their massages, therapies, and treatments are a combination of both the eastern and western methods. Their treatment menu is set up to meet the needs of every inch of your body and to rejuvenate your mind and soul with exotic massage. Their menu includes classic facial and body treatment with the latest technological devices along with i-treatments such as 3GRF and Indiba. The selected products and premium ingredients from the INDIBA® treatments and Tinababy® line will transport you to a state of bliss.

Treatments and Therapies

3GIPL: E-Light is a 30-minute treatment for Pigmentation, Skin Rejuvenation, Acne Scars, Broken Capillaries, Open Pores, and Hair Removal.

3GIPL is the permanent hair removal and whitening treatment for hairy parts of your body. They offer this service for Armpits, Tummy, Upper Lip, Legs, Arms, Brazilian, Back, and Bikini.

All About Face is a ​​60 min treatment to give your face a new life and everlasting freshness with Cell-Regenerating Face Treatment with “Atelocollagen”, Iontopherosis Vitamin-C Face Treatment, Skin and Cell Renewal Face Treatment, Microdrmabrasion, and Chemical Peel.

​INDIBA: Body Management is a 50 min massage and therapy treatment that helps manage various ailments and irregularities of your body such as Obesity Management, Body Detox, Cellulite Treatment, Flabby Arm, Viceral Fat, Love Handle, Saddle Bag Reduction, Breast Management, Abdomen Reduction, Post Natal Management, and Body Detox.

INDIBA Deep Beauty is a 60-minute beauty treatment for your face and body. It includes ​​ Face Lift Programme (Signature Treatment) – Full Set, Bags under the eyes, Neck and Decollete, Post Acne Scars/ Marks, and Post Caesarean.

3GRf: TRIPOLAR is another 50-minute treatment to relax your body and rejuvenate your mind and soul with therapies for Arms, Eye Treatment, Buttocks, Face, Thighs,  Jowls, Abdomen, Neck, Love Handles, Double Chin, and Calves.

Pros

Envy Wellness is known for its high-tech therapies in the city. They have well trained staff that also offers best counseling for a peaceful life. It is a complete set of physical and mental care comprising face, skin, hair, and body treatments.

Cons

Services of Envy Wellness are quite pricey as compared to others, particularly Scents and Sense Spa. The treatments may lighten your pocket unless you are ready for a great holiday and do not mind a little of extravagancy.

When you get tired of visiting all the places and through to Melaka attractions, pay a visit to Envy Wellness Spa. The experience will definitely revitalize you for the next several days. If you have visited the spa and would like to share your experience, please do so by adding comments below.

Address: Jalan Limbongan, Melaka, Malaysia
Phone: +60 6-283 5572
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